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The imaginary nepotism that drives Carsales global growth

The long-term approach of Carsales and its CEO Cameron McIntyre has delivered big gains for investors. He reveals his secret to staying strategic. 

Cameron McIntyre, the chief executive of Carsales, says there are plenty of similarities between the car markets of Australia and Brazil, where the $8.7 billion ASX group has just increased its stake in local online classifieds leader, Webmotors.

But there are a few differences, too. In a country where personal safety can be a little dicey, mum and dad sellers are reluctant to hand out their home address to buyers. And where Aussie car owners might pimp their ride with a new sound system or mag wheels, Brazilians have other priorities.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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    Original URL: https://www.afr.com/chanticleer/the-imaginary-nepotism-that-drives-carsales-global-growth-20230326-p5cvay